Oil Prices to Stay High for Two Years, Thai Finance Chief Says

Thailand expects oil prices to remain elevated for up to two years due to the Middle East conflict, its finance minister said, signaling prolonged pressure on a net energy importer already grappling with rising costs and slowing growth.

Energy infrastructure in the Middle East has been so severely disrupted that oil and gas supply may take one to two years to stabilize, Finance Minister Ekniti Nitithanprapas told lawmakers Thursday during a parliamentary debate following the government’s policy statement.